Analysts Set HIVE Digital Technologies Ltd. (NASDAQ:HIVE) Target Price at $6.17

Shares of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $6.1667.

Several research analysts have weighed in on the stock. Cantor Fitzgerald lowered their target price on shares of HIVE Digital Technologies from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings restated a “sell (d)” rating on shares of HIVE Digital Technologies in a research report on Monday, May 11th. New Street Research set a $5.00 target price on shares of HIVE Digital Technologies in a research report on Thursday, February 19th. B. Riley Financial lowered their target price on shares of HIVE Digital Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Northland Securities set a $6.00 target price on shares of HIVE Digital Technologies in a research report on Wednesday, February 18th.

HIVE Digital Technologies Trading Up 28.6%

Shares of HIVE Digital Technologies stock opened at $3.46 on Tuesday. HIVE Digital Technologies has a 52-week low of $1.60 and a 52-week high of $7.84. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The company’s 50-day simple moving average is $2.31 and its 200-day simple moving average is $2.81. The firm has a market cap of $914.99 million, a price-to-earnings ratio of -5.77 and a beta of 3.50.

Institutional Trading of HIVE Digital Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Bastion Asset Management Inc. purchased a new stake in shares of HIVE Digital Technologies in the third quarter valued at about $1,175,000. Alight Capital Management LP purchased a new position in shares of HIVE Digital Technologies during the third quarter valued at approximately $1,310,000. Baader Bank Aktiengesellschaft purchased a new position in shares of HIVE Digital Technologies during the third quarter valued at approximately $847,000. Situational Awareness LP purchased a new position in shares of HIVE Digital Technologies during the first quarter valued at approximately $6,444,000. Finally, CI Investments Inc. lifted its stake in shares of HIVE Digital Technologies by 37.9% during the first quarter. CI Investments Inc. now owns 54,429 shares of the company’s stock valued at $103,000 after buying an additional 14,964 shares during the period. Hedge funds and other institutional investors own 24.42% of the company’s stock.

About HIVE Digital Technologies

HIVE Digital Technologies Ltd is a publicly traded blockchain infrastructure company that specializes in the mining of digital assets such as Bitcoin and Ethereum. Using high-performance GPU and ASIC hardware, HIVE deploys proprietary mining rigs across multiple data centers to validate transactions on major blockchain networks. The company’s operations are designed to maximize hashing power while maintaining efficiency and uptime, enabling it to build and hold a portfolio of mined cryptocurrencies.

Headquartered in Vancouver, British Columbia, HIVE Digital operates data center facilities in North America and Europe, including Canada, Sweden and Iceland.